The Daily News. WEDNESDAY, NOVEMBER 16, 1921. THE KING’S SPEECH.

Taranaki Daily News, 16 November 1921, Page 4

The Daily News. WEDNESDAY, NOVEMBER 16, 1921. THE KING’S SPEECH.

Owing to the grave matters now occupying the attention of the Imperial Cabinet, the King’s Speech at the prorogation of Parliament was east in a tone to correspond with the momentous issues of the day. While the main portion of its contents was doubtless framed by Cabinet, it bears evidence of His Majesty’s personal touch and phrasing. The reference to the Premiers’ Conference, although couched in formal language, was a courtesy that could not well have been omitted, and it paved the way to brief mention of that other conference which is being held at Washington. The kernel of the speech is to be found in the remarks made as to trade, finance, and the industrial'situation, and it is that part which will assuredly be most widely and closely studied. What, for example, could strike so unerringly at the chief obstacle to industrial progress as the following?: “It is not, however, so much to Acts of Parliament as to the good sense, of employers and operatives, working together for the promotion of their common interest, that I look for the restoration of trade, and prosperity.” Therein lies the crux of the present industrial troubles, and until co-operation and goodwill become established between the two component parts of the industrial machine it will be hopeless to expect anything but trouble. Endless provision may be made for settling disputes, but without goodwill between capital and labor, nothing of a definite, lasting nature can be accomplished. ‘ ‘ Our debts are great and taxation heavy and burdensome,” said the King, and the remark has a world-wide significance. The pity is that, although the truth of this assertion is generally recognised, there is a manifest tendency to resort to expedients instead of boldly facing the situation. The magnitude of taxation is striking evidence of the financial burdens the people have to carry, and until these are appreciably eased there must be much hardship. Although the worst of the stringency may be over, the position is, said King George, still full of anxiety. This eannot be denied. The only avenue whereby relief can be obtained is by greater production* which means the employment 08 all physically capable people! Trade revival depends on two fac! tors, the first being money for exl panding industry, and the seconcj being the ability of the masses tc| purchase. Here are two problem* that act and react on one another! but, taken together, they can onlyj be solved in one way, namely, by! the co-operation of capital and! labor. It is useless to produce! goods at such a price that they are! out of the reach of the generality! of the consumers, and this means! the payment of fair and reason-] able wages to prevent the cost of* production being inflated or the curtailment of the spending power of the workers to a point where they cannot afford to pay for their legitimate requirements. It is not an easy-matter to settle, because it requires that all concerned shall be of one mind and animated by one desire—that of weathering the present depression and laying the foundation of permanent prosperity. It is to be hoped, that the wise words of the King will be taken to heart, and bring forth good fruit, so that a concerted effort may be made to place trade and industry on a sure founidation to the general well-being of the people of the Empire and of all the nations now suffering from the effects of the war.